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General Information
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Company Law
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Company Law No. 32 1927
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Type of Company
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Corporation
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Language of Legislation and Corporate Documents
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Spanish
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Taxation of Foreign Profits
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Nil
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Exchange Controls
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None
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Length of Time to Incorporate
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5 working days
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Shelf Companies Available
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Yes
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Corporate Names
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Name Restrictions
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Names identical or similar, offensive words
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Endings and Abbreviations Required
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Corporation, Incorporated, Sociedad Anonima, or its abbreviations
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Length of Time to Verify Name Availability
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2 hours
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Reservation of Names Permitted
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Yes
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Language of Name
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Any language using the Latin alphabet
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Name of Banks, Insurance, Investment Fund, Trust Company or their equivalents requiring consent or license
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Yes
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Capital and Shareholders
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Minimum Number of Shareholders
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One
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Local Shareholders Required
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No
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Corporate Shareholders Permitted
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Yes
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Disclosure of Shareholders
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No
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Minimum Authorised Capital Required
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Yes
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Bearer Shares Permitted
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Yes
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Registered Shares Permitted
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Yes
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No Par Value Shares Permitted
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Yes
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Directors and Officers
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Minimum Number of Directors
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Three natural persons or corporate bodies
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Qualifications of Directors
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Legal age
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Officers Required
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Yes
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Corporate Directors/Officers Permitted
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Yes
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Local Directors/Officers Mandatory
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No
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Appointment of Subsequent Directors/Officers
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Articles of Incorporation
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Meetings
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Annual General Meeting of Shareholders Required
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No
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Annual General Meeting of Directors Required
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No
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Location of Directors and Shareholders Meetings
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Anywhere
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Adoption by Consent Permitted
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No
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Quorum required for purposes of meetings
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Articles of Incorporation
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Local Requirements
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Qualified Registered Office/Agent
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Yes/Yes
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Government Register of Shareholders
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No
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Government Register of Directors/Officers
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Yes
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Government Register of Charges
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No
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Register of Directors/Officers to be kept at Registered Office
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Yes
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Company Seal Required
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No
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Copy of Minutes to be kept at Registered Office
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No
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Copy of Share Register to be kept at Registered Office
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No
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Annual Requirements
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Minimum Annual License Fee or Franchise Tax
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US$300
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Annual License Fee or Franchise Tax Due Date
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July 15 (for companies incorporated from January to June)
January 15(for companies incorporated from July to December)
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Applicable Surcharges
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US$50 (Additionally a US$300 penalty applies for nonpayment of more than one franchise tax)
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Requirement to File Annual Returns
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No
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Requirement to Submit Annual Audited Accounts
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No
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Other Relevant Information
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Member of Apostille of the Hague Convention
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Yes
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Increase or Reduction of Capital
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Shareholder's resolution
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Redomiciliation Prohibited
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No
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Reinstatement at Registry
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No
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Removal from Registry
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Even if a company is dissolved, its corporate documents are kept at the Registry.
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